Changes Coming for NJSFDA Members with AMT HSA Cards

Changes Coming for NJSFDA Members with AMT HSA Cards

Changes are coming for New Jersey State Funeral Directors Association members who enjoy Association Member Trust health coverage involving Health Savings Account benefits, currently administered by BenefitWallet.

On or about April 12, 2024, all BenefitWallet HSAs will be automatically transferred to HealthEquity, an IRS-approved non-bank custodian.

If you have an HSA with BenefitWallet, you will receive a “custodial resignation notice” from Bank of New York Mellon and BenefitWallet approximately one month before the HSA transfer date with details about the timing and process of this transition. Please read this letter thoroughly as your transfer will happen automatically.

If your employer is funding contributions by pre-paid deposits, they will need to obtain the new account numbers from HealthEquity before the accounts can continue to be funded. There is no action needed by you to continue your elected payroll deductions.

Below are several important dates regarding the upcoming transition of the HSA from BenefitWallet to HealthEquity:

  • Week of March 18: You will receive your HealthEquity Welcome Kit and debit card in the mail.
  • April 2: Last day to make individual contributions to your BenefitWallet HSA (no action needed for payroll contributions). Last day to request distributions from your BenefitWallet HSA unless using debit card.
  • April 4: Final day to use your current BenefitWallet HSA debit card.
  • April 11: Account balances and investment holdings are transferred to your new HealthEquity HSA.
  • April 12: Your transferred funds will be available at HealthEquity, including your investment funds.

No action is required by you to complete this transfer to HealthEquity. HealthEquity has created an information portal now available for you at https://www2.healthequity.com/benefitwallet2/members/.

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Choices: Help Your Families Understand: Couple
2024 CEU
Passages
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Ask the Manager

The NJSFDA Manager of the Day program provides members with a resource for addressing and resolving problems that arise in the daily operations of their funeral homes. Here are some matters that were brought to the attention of the Manager of the Day in recent months.

Do I Need to Supply a Sign Language Interpreter Free of Charge?

A woman is coming in to make arrangements for her spouse, who died recently. She is deaf and communicates through sign language. Can I charge her for hiring an American Sign Language interpreter to assist during our meeting?

Read the answer

Human Remains and Nonpayment of Bill

I recently handled the funeral arrangements for a woman who was then cremated. The cremated remains have been returned to the funeral home. The family has not yet paid their funeral bill, but the next of kin is now asking for the remains. Am I...
Read the answer

Power of Attorney and Right to Control

A man with power of attorney over a friend’s affairs recently opened a Trust account for her funeral. The friend is now incapacitated and unable to appoint anyone as the funeral agent. The man’s attorney is insisting that the POA...
Read the answer
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